Research Update: German Commerzbank Long-Term Rating Raised To 'A-' On Higher ALAC Buffer; Outlook Neg; Sr Subordinated Debt Cut To 'BBB' - S&P Global Ratings’ Credit Research

Research Update: German Commerzbank Long-Term Rating Raised To 'A-' On Higher ALAC Buffer; Outlook Neg; Sr Subordinated Debt Cut To 'BBB'

Research Update: German Commerzbank Long-Term Rating Raised To 'A-' On Higher ALAC Buffer; Outlook Neg; Sr Subordinated Debt Cut To 'BBB' - S&P Global Ratings’ Credit Research
Research Update: German Commerzbank Long-Term Rating Raised To 'A-' On Higher ALAC Buffer; Outlook Neg; Sr Subordinated Debt Cut To 'BBB'
Published Mar 28, 2017
8 pages (2827 words) — Published Mar 28, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

A recent retroactive German law change has significantly increased Commerzbank's additional loss-absorbing capacity buffer, which should protect more-senior creditors in a resolution scenario. We are therefore raising our long-term issuer credit rating on Commerzbank AG to 'A-' from 'BBB+'. We are raising to 'A-' from 'BBB+' the issue ratings on instruments that we continue to view as senior unsecured debt under the new law, and lowering to 'BBB' from 'BBB+' the issue ratings on instruments that we have reclassified as senior subordinated debt. The negative outlook on Commerzbank reflects that we might lower our ratings if economic risks in Germany were to worsen within the next two years. On March 28, 2017, S&P Global Ratings raised its long-term counterparty credit

  
Brief Excerpt:

...A recent retroactive German law change has significantly increased Commerzbank's additional loss-absorbing capacity buffer, which should protect more-senior creditors in a resolution scenario....

  
Report Type:

Research Update

Ticker
CBK@GR
Issuer
Commerzbank AG
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Germany
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: German Commerzbank Long-Term Rating Raised To 'A-' On Higher ALAC Buffer; Outlook Neg; Sr Subordinated Debt Cut To 'BBB'" Mar 28, 2017. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-German-Commerzbank-Long-Term-Rating-Raised-To-A-On-Higher-ALAC-Buffer-Outlook-Neg-Sr-Subordinated-Debt-Cut-To-BBB-1822157>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: German Commerzbank Long-Term Rating Raised To 'A-' On Higher ALAC Buffer; Outlook Neg; Sr Subordinated Debt Cut To 'BBB' Mar 28, 2017. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-German-Commerzbank-Long-Term-Rating-Raised-To-A-On-Higher-ALAC-Buffer-Outlook-Neg-Sr-Subordinated-Debt-Cut-To-BBB-1822157>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.